Nigerian stocks ended the trading week cumulatively on a bullish note.
It was a four-day trading week as the Federal Government of Nigeria declared Friday 25th of December 2020, as a Public Holiday in commemoration of the Christmas celebration.
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The All Share Index and Market Capitalization appreciated by 5.42% to close the week at 38,800.01 and N20.279 trillion respectively. Investors gained N1.04 trillion in the past four trading sessions.
- Meanwhile, a total turnover of 2.756 billion shares worth N40.311 billion in 17,459 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.893 billion shares valued at N17.647 billion that exchanged hands last week in 20,660 deals.
- The Financial Services Industry (measured by volume) led the activity chart with 2.106 billion shares valued at N19.454 billion traded in 8,327 deals; thus contributing 76.40% and 48.26% to the total equity turnover volume and value respectively.
- The Consumer Goods Industry followed with 182.099 million shares worth N4.392 billion in 2,485 deals. The third place was the Industrial Goods Industry, with a turnover of 145.808 million shares worth N10.632 billion in 2,587 deals.
- Trading in the top three equities namely Access Bank Plc., Zenith Bank Plc., and AXA Mansard Insurance Plc. (measured by volume) accounted for 1.439 billion shares worth N13.881 billion in 2,972 deals, contributing 52.23% and 34.44% to the total equity turnover volume and value respectively.
- Thirty- five (35) equities appreciated at price during the week, lower than fifty-three (53) equities in the previous week. Eighteen (18) equities depreciated in price, higher than seventeen (17)equities in the previous week; while one hundred and eight (108) equities remained unchanged, higher than ninety-one (91) recorded in the previous week.
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Top gainers
- FTN COCOA PROCESSORS PLC up 43.55% to close at N0.89
- JAPAUL GOLD & VENTURES PLC up 41.18% to close at N0.48
- B.O.C. GASES PLC. up 20.83% to close at N8.70
- DANGOTE CEMENT PLC up 16.95% to close at N245.00
- OANDO PLC up 15.92% to close at N3.64
- AXAMANSARD INSURANCE PLC up 14.13% to close at N1.05
- CUTIX PLC. up 13.76% to close at N2.15
- LASACO ASSURANCE PLC. up 13.33% to close at N0.34
- CAVERTON OFFSHORE SUPPORT GRP PLC up 11.41% to close at N2.05
- HONEYWELL FLOUR MILL PLC up 10.81% to close at N1.23
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Top losers
- TRANS-NATIONWIDE EXPRESS PLC. down 9.20% to close at N0.79
- JOHN HOLT PLC. down 8.93% to close at N0.51
- CHAMPION BREW. PLC. down 7.87% to close at N0.82
- INTERNATIONAL BREWERIES PLC. down 5.90% to close at N5.90
- ARDOVA PLC down 5.24% to close at N13.55
- LAFARGE AFRICA PLC. down 4.55% to close at N21.00
- NEIMETH INTERNATIONAL PHARMACEUTICALS PLC down 4.17% to close at N2.30
- MAY & BAKER NIGERIA PLC. down 3.90% to close at N3.70
- CONSOLIDATED HALLMARK INSURANCE PLC down 3.33% to close at N0.29
- JAIZ BANK PLC down 3.23% to close at N0.60
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Outlook
Nigerian Stocks unsurprisingly recorded impressive gains W/W, as investors increased their buying pressure, especially on NSE30 stocks that include Dangote, Airtel, and lately Guinness.
- Nigerian’s crude, selling at $51/barrel, kept stocks rally up. Stock experts anticipate the present bullish run currently playing at Africa’s best-performing equity market will remain long term, albeit alongside profit-taking seen lately at its last trading session.
- However, Nairametrics, envisage cautious buying, taking into consideration the low presence of the Foreign portfolio investors amid low investments seen lately in the Nigerian Stock Exchange amid stringent capital controls set in place by Nigeria’s Apex bank could limit the Stocks bull upside in the coming year.
